Privet,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- Moove/UberGo drivers protest 100% remittance hike
- Saluni is putting beauty professionals on the map
- Canal+ R55B bid moves forward after reorganisation
Moove/UberGo drivers protest 100% remittance hike
Drivers under Moove’s vehicle financing scheme and Uber’s UberGo platform have downed tools in Lagos, protesting what they call an “unjust” hike in their weekly repayments, per Technext. The drivers say Moove doubled their remittance for Suzuki S-Presso cars from ₦56,400 to ₦112,200, without extending repayment periods or offering any relief.
The hike, they argue, makes little sense. Out of the new ₦120,200 breakdown, only about ₦39,766 goes to paying off the car loan — roughly a third. The rest is split across costs like maintenance, insurance, health cover, and a hefty “handling cost” of ₦42,735, which drivers say overshadows the actual loan cost.
“We are protesting the 100% increase in weekly remittance while the tenor for owning the car remains the same,” one driver told the publication. “Some of us didn’t even get brand-new cars, yet we’re paying double.”
The drivers, who acquired their cars through Moove’s hire-purchase model, want the company to reverse the increase. They are also calling on Uber to peg its commission at no more than 20% to ease the financial strain. For now, the UberGo platform is expected to feel the impact as drivers insist they won’t return to work until Moove reconsiders.
Moove, on its part, has argued that inflation and rising operational costs are behind the change. Per reports, the company is trying to protect itself from losses, as the original repayment plan was no longer sustainable.
Still, for drivers already struggling to stay afloat, the sudden jump feels like exploitation. They’ve promised to keep their protests peaceful but firm, saying any violent behaviour will be handed over to authorities. Until there’s a compromise, Lagos riders relying on UberGo may need to brace for longer waits.
Saluni is putting beauty professionals on the map
One of the biggest struggles when you move to a new city isn’t just finding your way around; it’s finding a good barber, hairstylist, or beauty professional you can actually trust. For Idemudia Orhikahi, that pain point hit hard in 2021 after he returned to Nigeria and simply needed a haircut.
What should’ve been a straightforward errand turned into hours of frustration. He had to call friends, scroll endlessly through Instagram, and search Google just to find a reliable barber nearby. That hassle planted the seed for Saluni, his digital solution for the beauty sector.
With a background in real estate, architecture, and IT, Orhikahi decided to channel his experience into building an app that connects customers directly to nearby beauty professionals. Saluni officially launched in March 2024 after being registered the previous year.
So far, the platform has grown fast: more than 2,400 customers and 4,200 vendors are already on board across Nigeria, South Africa, Togo, Benin Republic, and even the UK. Together, they’ve pushed over ₦200 million ($133,000) in gross revenue.
At its heart, Saluni is about visibility and speed. Many talented professionals stay hidden in their neighbourhoods, surviving on word-of-mouth. “There’s the possibility that a great barber is one minute away, but you’re getting referred to someone far off,” Orhikahi says. Saluni puts those hidden gems on the map.
For professionals, it’s like having a digital shop; for customers, it means no more endless scrolling or guessing. To know how the company works and what makes it different, check out Delight’s latest for Techpoint Africa.
Canal+ R55B bid moves forward after reorganisation
MultiChoice has finally cleared the last hurdle in its long, complicated reorganisation, a move that paves the way for Canal+’s R55 billion takeover bid, per MyBroadband. The company told shareholders this week that all the agreements tied to the restructuring are now unconditional and implementation is underway.
This restructuring is not optional. It was a key condition set by South Africa’s Competition Tribunal when it approved Canal+’s mandatory offer for MultiChoice. Canal+ was forced to make that offer earlier this year after its shareholding crept above 35%, triggering the country’s takeover rules.
At R125 per share, Canal+ is offering to buy out all remaining MultiChoice stock, but regulatory headaches meant the deal couldn’t move forward without a major shake-up in how MultiChoice’s broadcasting licence is held. South African law limits foreign ownership to 20% voting rights, while Icasa requires at least 30% to be in the hands of historically disadvantaged groups.
To solve this, MultiChoice is carving out a new structure for its licence-holding arm, now called LicenceCo. The group itself will retain 49% of the economics and 20% of the voting rights. The rest is being distributed to four local shareholder groups: Phuthuma Nathi, 13th Avenue Investments, Identity Partners Itai Consortium (IPIC), and the MultiChoice Workers Trust.
Phuthuma Nathi, MultiChoice’s long-standing BEE investment vehicle, will emerge with the largest chunk. Along with new shares in Orbicom, MultiChoice’s signal distributor, its stake will rise significantly. Meanwhile, 13th Avenue and IPIC — both backed by prominent South African business leaders — will buy in for a combined R287 million, and the Workers Trust will take a 5% slice for employees and key suppliers.
To sweeten the deal, MultiChoice and Phuthuma Nathi shareholders will also pocket an extraordinary dividend worth R1.375 billion, with over R340 million going directly to Phuthuma Nathi. Once all the restructuring steps are complete, the focus shifts back to Canal+, with an updated timetable for its full takeover offer expected soon.
In case you missed it
- Why every African founder and investor should care about debt
What I’m watching
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- An Honest Conversation About Female Hormones – Dr Sarah Hill
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Have a lovely Tuesday!
Victoria Fakiya for Techpoint Africa
